Tower Research Capital LLC TRC Invests $67,000 in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

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Tower Research Capital LLC TRC purchased a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,479 shares of the semiconductor company’s stock, valued at approximately $67,000.

Several other large investors have also bought and sold shares of JKS. BosValen Asset Management Ltd lifted its stake in shares of JinkoSolar by 723.9% in the first quarter. BosValen Asset Management Ltd now owns 649,839 shares of the semiconductor company’s stock worth $9,650,000 after buying an additional 570,962 shares in the last quarter. Norges Bank purchased a new position in JinkoSolar during the fourth quarter worth about $12,628,000. BlackRock Inc. raised its stake in JinkoSolar by 42.8% during the first quarter. BlackRock Inc. now owns 1,645,118 shares of the semiconductor company’s stock worth $24,429,000 after purchasing an additional 492,914 shares during the period. JPMorgan Chase & Co. raised its stake in JinkoSolar by 567.0% during the first quarter. JPMorgan Chase & Co. now owns 466,615 shares of the semiconductor company’s stock worth $6,929,000 after purchasing an additional 396,662 shares during the period. Finally, Invesco Ltd. raised its stake in JinkoSolar by 36.1% during the first quarter. Invesco Ltd. now owns 1,475,898 shares of the semiconductor company’s stock worth $21,917,000 after purchasing an additional 391,390 shares during the period. 71.98% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar stock opened at $17.90 on Wednesday. The company’s 50 day simple moving average is $16.35 and its 200-day simple moving average is $18.95. The company has a market capitalization of $787.83 million, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.30 and a beta of 1.55. JinkoSolar Holding Co., Ltd. has a 1 year low of $11.42 and a 1 year high of $28.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 1.00.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Monday, June 15th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.35). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.03 billion. JinkoSolar had a net margin of 3.51% and a return on equity of 9.86%. JinkoSolar’s revenue was up 41.6% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. Equities analysts expect that JinkoSolar Holding Co., Ltd. will post 3.03 earnings per share for the current year.

A number of brokerages have commented on JKS. Zacks Investment Research downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Tuesday, June 23rd. Credit Suisse Group reaffirmed a “hold” rating and set a $21.00 target price on shares of JinkoSolar in a research note on Monday, March 16th. Roth Capital reaffirmed a “buy” rating on shares of JinkoSolar in a research note on Monday, March 16th. Citigroup reduced their price target on shares of JinkoSolar from $7.97 to $6.88 and set a “sell” rating on the stock in a research note on Wednesday, April 8th. Finally, ValuEngine raised shares of JinkoSolar from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. JinkoSolar has a consensus rating of “Hold” and a consensus target price of $18.29.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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Institutional Ownership by Quarter for JinkoSolar (NYSE:JKS)

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